Best Buy names new board director

Best Buy Co. said Thursday that it appointed Russell Fradin to its board of directors.

Fradin will replace Ron James, who will not stand for re-election.

Fradin, 57, brings much needed technology and operations experience to Best Buy's board. He is president and CEO of SunGard, a software and technology services company that generates about $4.5 billion in annual sales.

He is also a former CEO of Aon Hewitt, a management consulting firm, and served as an executive with BISYS Group, Inc., Automatic Data Processing, and McKinsey & Company, where he was a senior partner.

"His background in operations, streamlining cost structures, executive compensation and strategic consulting will be beneficial to Best Buy as it continues its Renew Blue transformation," chairman Hatim Tyabji said in a statement.. "We look forward to Russ offering his insights in support of management's work to transform Best Buy and make it the preferred destination and authority for technology products and services."

Fradin is the third new director to join Best Buy's board this week. The company also seated former CEO Brad Anderson and former president and vice-chairman Al Lenzmeier.

James, the CEO for Ethical Business Cultures, has served on the board since 2004.

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